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Strategic Management: Strategic Managment
Gregory G. Dess, University of Texas at Dallas
G.T. Lumpkin, University of Illinois--Chicago
Analyzing the External Environment of the Firm

Chapter Objectives

Chapter 2
After reading this chapter, you should have a good understanding of:
  • The importance of developing forecasts of the business environment.
  • Why environmental scanning, monitoring, and collecting competitive intelligence are critical inputs to forecasting.
  • Why scenario planning is a useful technique for firms competing in industries characterized by unpredictability and change.
  • The impact of the general environment on a firm’s strategies and performance.
  • How forces in the competitive environment can affect profitability.
  • How a firm can improve its competitive position by increasing its power vis-à-vis forces in the competitive environment.
  • How trends and events in the general environment and forces in the competitive environment are interrelated and affect performance.
  • The concept of strategic groups and their strategy and performance implications.






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